Restaurant technology solution CAKE, which for the past 9 years has been owned by Sysco Corporation, the world’s largest broadline food distributor, has found a new home. The solution is being acquired by Mad Mobile, a retail technology solution provider best known for its Concierge Cloud platform, which features pre-built connectors to leading retail systems (POS, CRM, DOM, and ECOM) as well as key payment processors and devices.
Mad Mobile will reportedly combine its mobile platform with CAKE technology to deliver a mobile-first POS solution for restaurants of all types.
Mad Mobile will support CAKE’s existing customer base while expanding the CAKE offering to include new modules such as Mobile Ordering, Contactless Payment, and Curbside Pickup. According to the company, the CAKE restaurant management and POS solution reportedly serves more than 5,000 restaurant locations.
Launched by Sysco in 2011, and based in northern California, CAKE was formed through the combination of three technology startups that solved for various challenges in the restaurant industry. The goal was to offer a comprehensive, restaurant-focused technology platform different from anything else available on the market today.
CAKE integrates front and back of house operations, allowing restaurant owners and operators to achieve visibility into their operations, connecting everything from point of sale to guest management. The idea was to combine proprietary hardware and restaurant-specific software to create a simple, easy-to-use platform that solves for challenges in the restaurant business, ultimately leading to increased efficiencies and cost savings.
Mad Mobile has been a Sysco partner for six years. “This transaction allows Sysco to focus our efforts on our digital transformation, including our e-commerce platform, and provides an excellent opportunity for CAKE to accelerate its evolution into a mobile-first platform supporting the unique needs of restaurant businesses,” said Michael Foster, Sysco’s Chief Information and Technology Officer, in a press statement announcing the deal.
The transaction will accelerate Mad Mobile’s stated vision of delivering a next-generation POS solution featuring a modern architecture and mobile capabilities. The transaction is expected to close by the end of next month. Financial terms of the deal were not disclosed.